Altus Strategies PLC (AIM:ALS, TSX-V:ALTS, OTCQX:ALTUF) has extended the repayment date for its loan facility with La Mancha Fund to 30 June 2022.
The annualised interest rate of the facility has been increased from 9% plus US$ LIBOR to 10%.
"Altus has received a number of attractive proposals from recognised lenders to refinance the existing Facility that we have with La Mancha, our largest shareholder,” said Steven Poulton, chief executive of Altus.
“The level of interest we have received reflects the high quality of our income-generating royalty portfolio which we have been aggressively growing in the last twelve months. However, Altus is assessing a number of further potential royalty and other opportunities and believe the flexibility derived from extending the existing facility will have value. We are pleased that La Mancha agree with our assessment and have extended the Facility to 30 June 2022. I look forward to providing further updates in due course."
La Mancha holds a 35.08% stake in Altus.